H.N.M.: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
H.N.M.
Largest movements
- Receivables within one year -€14,249
down €14,249 (-44.5%), from €32,030 to €17,781
- Cash +€6,488
up €6,488 (+232%), from €2,792 to €9,280
mainly Receivables within one year (+€14,249) and Stocks and contracts (+€5,100)
- Stocks and contracts -€5,100
down €5,100 (-35.8%), from €14,232 to €9,132
- Tangible fixed assets +€1,347
up €1,347 (+1,348%), from €100 to €1,446
of which Plant, machinery and equipment: +€1,446
- Trade debts -€4,910
no longer reported in 2025 (was €4,910)
- Debts after one year -€3,095
no longer reported in 2025 (was €3,095)
- Profit (loss) carried forward -€2,591
down €2,591, from €1,889 to -€701
- Current portion of long-term debt -€1,451
down €1,451 (-32.7%), from €4,440 to €2,989
- Tax, wage and social debts +€534
up €534 (+40.3%), from €1,323 to €1,857
of which Taxes: +€1,350
- Turnover +€314,232
new in 2025: €314,232
- Purchases and services +€301,870
new in 2025: €301,870
- Depreciation -€4,289
down €4,289 (-87.4%), from €4,908 to €618
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,851 | €40,337 | -€11,514 | -22.2% |
| Fixed assets | 21/28 | €2,798 | €4,145 | +€1,347 | +48.1% |
| Tangible fixed assets | 22/27 | €100 | €1,446 | +€1,347 | +1,348% |
| Plant, machinery and equipment | 23 | - | €1,446 | +€1,446 | |
| Other tangible fixed assets | 26 | €100 | - | -€100 | |
| Financial fixed assets | 28 | €2,698 | €2,698 | = | 0.0% |
| Current assets | 29/58 | €49,053 | €36,193 | -€12,861 | -26.2% |
| Stocks and contracts in progress | 3 | €14,232 | €9,132 | -€5,100 | -35.8% |
| Stocks | 30/36 | €14,232 | €9,132 | -€5,100 | -35.8% |
| Amounts receivable within one year | 40/41 | €32,030 | €17,781 | -€14,249 | -44.5% |
| Other amounts receivable | 41 | €32,030 | €17,781 | -€14,249 | -44.5% |
| Cash at bank and in hand | 54/58 | €2,792 | €9,280 | +€6,488 | +232% |
| Total equity and liabilities | 10/49 | €51,851 | €40,337 | -€11,514 | -22.2% |
| Equity | 10/15 | €38,082 | €35,491 | -€2,591 | -6.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €17,601 | €17,601 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,601 | €17,601 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,601 | €17,601 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,889 | -€701 | -€2,591 | |
| Amounts payable | 17/49 | €13,769 | €4,846 | -€8,924 | -64.8% |
| Amounts payable after more than one year | 17 | €3,095 | - | -€3,095 | |
| Financial debts | 170/4 | €3,095 | - | -€3,095 | |
| Amounts payable within one year | 42/48 | €10,674 | €4,846 | -€5,828 | -54.6% |
| Current portion of amounts payable after more than one year | 42 | €4,440 | €2,989 | -€1,451 | -32.7% |
| Trade debts | 44 | €4,910 | - | -€4,910 | |
| Suppliers | 440/4 | €4,910 | - | -€4,910 | |
| Taxes, remuneration and social security | 45 | €1,323 | €1,857 | +€534 | +40.3% |
| Taxes | 450/3 | - | €1,350 | +€1,350 | |
| Remuneration and social security | 454/9 | €1,323 | €507 | -€816 | -61.7% |
| Turnover | 70 | - | €314,232 | +€314,232 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €301,870 | +€301,870 | |
| Remuneration, social security and pensions | 62 | €5,959 | €3,978 | -€1,980 | -33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,908 | €618 | -€4,289 | -87.4% |
| Other operating charges | 640/8 | €7,028 | €6,744 | -€284 | -4.0% |
| Gross operating margin | 9900 | €12,931 | €12,362 | -€570 | -4.4% |
| Operating profit (loss) | 9901 | -€4,963 | €1,021 | +€5,984 | |
| Financial charges | 65/66B | €1,799 | €2,262 | +€463 | +25.7% |
| Recurring financial charges | 65 | €1,799 | €2,262 | +€463 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,762 | -€1,241 | +€5,522 | +81.7% |
| Income taxes | 67/77 | - | €1,350 | +€1,350 | |
| Profit (loss) for the period | 9904 | -€6,762 | -€2,591 | +€4,172 | +61.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,762 | -€2,591 | +€4,172 | +61.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.